Cannabis stocks sink with broader market as latest bad news from CannTrust weighs

Cannabis stocks were mostly lower Friday, tracking losses in the broader market amid renewed worry about trade tensions with China with the latest bad news from troubled Canadian player CannTrust adding to the downdraft.

CannTrust shares slid another 6%, after the company said its auditor, KPMG, is withdrawing audits for 2018 and the recent March quarter, saying the numbers can no longer be relied on. The decision came after a special committee shared newly uncovered information from an investigation that led to senior leadership changes announced on July 25. That was the day that Chief Executive Peter Aceto was fired for cause and President Eric Paul was forced to resign.

“In our view, this differentiated approach to focus on its strengths makes sense as the outsourcing structure is present in many other industries such as CPG and Pharmaceuticals,” said GMP Securities analyst Ryan Macdonell.Management also offered a bullish view on the U.S. CBD market, which it will enter via its recently announced acquisition of four units of Redwood Holding Group for $300 million. The company is expecting the U.S.

GarCapital Are you guys still bullish Cgc long term?

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cannabis producer CannTrust tumbles after auditor withdraws its last 2 earnings reports amid illegal-growing scandalThe Canada-based company also announced it will likely miss the August 14 filing deadline for its second-quarter earnings.
Source: BusinessInsider - 🏆 729. / 51 Read more »

S&P 500 and Nasdaq erase losses after bond market scareThe S&P 500 and the Nasdaq Composite clawed back their earlier losses and closed higher, up 0.1% and 0.4%, respectively. The Dow closed down 0.1%, or 22 points. At its worst, the index was down 589 points. It’s called the Don Effect. He knows how to fix shit unlike anybody on the left!
Source: CNN - 🏆 4. / 95 Read more »

The truth about the stock market that Never Trumpers can’t accept3,000 more points: That's how far the Dow has to fall before you can start saying Trump's been bad for the stock market, writes Brett Arends: This is just....not how it works Actually, you could start saying it a year ago. sad if a prez is judged by stock market numbers. most people who need help do not participate in the stock market. if a rich guy does well in stock market, you think he will pay his employee a bonus? no, he will buy a bigger boat instead. brett arends is possibly like that
Source: MarketWatch - 🏆 3. / 97 Read more »